Oil companies appeal depot closure

The country’s three biggest oil firms–Chevron Philippines, Inc., Petron Corp. and Pilipinas Shell Petroleum Corp.– have asked the Philippine Supreme Court to reconsider a March 7 decision ordering the closure of the Pandacan terminal in Manila. In a joint motion for reconsideration filed on March 12, the three oil firms warned of a drastic cut in the supply of fuel to Metro Manila if they are forced to immediately move out pursuant to Manila Ordinance 8027. Petron Corp. estimates that it may take at least seven years and cost Php10 billion (US$205.33 million) to relocate its depot. (March 14, 2007)